Digital currency replaces physical means of payment such as cash and checks. The handling and managing of physical transactions is more expensive as it requires people rather than a program to manage transactions. As the five big banks control 90% of all deposits–essentially a monopoly– their adoption of digital currency would impose it on all banks.

A digital currency means your money is no longer in your hands. It can be denied you intentionally or accidentally. You no longer will have a cash hoard as a backup. Possibly, if they are permitted to exist, you could collect anonymous debit cards preloaded with specific amounts, but if digital money is to be used for control, their existence is unlikely. Moreover, hackers are as likely to be successful diverting digital money as everything else.

The main destructive element of digital systems is that they remove humans from human contact. Scammers have eliminated the usefulness of a telephone as a device for speaking to another person. Instead, people text. But if caller ID and emails can be compromised, so can texting.

What the digital revolution has given us is total insecurity, isolation, and enormous frustration.

-- PC Roberts, former Asst. Treasury Secretary